GCC Flat Glass Market Overview:
The GCC flat glass market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Flat glass, or plate glass, is an inorganic material with a hard composition that is commonly used for windows, transparent walls, glass doors, and windscreens. The glass is manufactured in various thicknesses through chemical and controlled thermal reactions, making it versatile for different applications. It is one of the most used materials in the architecture and construction industry due to its umpteen advantageous properties, such as high viscosity, surface tension, hardness, density, and thermal expansion. Flat glass also has a lower soluble oxide content, which offers better chemical durability of the glass against water. It is commercially available in different variants, including laminated, tempered, and annealed. In the GCC region, flat glass is witnessing massive demand across the energy, automotive, food and beverage (F&B), and construction sectors.
The GCC flat glass market is primarily driven by the rapidly expanding automotive industry in the region. Flat glass is largely used in the manufacturing of mirrors, windshields, sunroofs, and windows. Furthermore, the surging environmental awareness and the growing demand for clean energy have significantly escalated the demand for solar panels across the region, which is creating a positive outlook for the market. Apart from this, burgeoning funding for the construction of eco-friendly green buildings and increasing consumer per capita income are providing an impetus to the market growth. Additionally, regional governments are heavily investing in infrastructure development, which is acting as another growth-inducing factor. They are also working to reduce carbon footprint and greenhouse gas emissions for environmental sustainability, which is accelerating the market growth. Besides this, rapid technological advancements for introducing new designs in architectural sciences and ongoing research and development (R&D) activities are positively supporting the market growth. Moreover, key market players are introducing new product variants, such as a three-coated solar control glass, to increase their consumer base, which is driving the market growth.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC flat glass market and can also impact its future growth. Taking 2021 as the base year, the report covers historical market scenario from 2016-2021 and provides forecasts till 2027. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC flat glass market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC flat glass market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC flat glass market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC flat glass market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC flat glass market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC flat glass market industry. Furthermore, the value chain analysis of the GCC flat glass market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC Flat Glass Market Segment Insights:
The GCC flat glass market has been analysed as followed:
By Product Type:
By Raw Material:
By End Use:
By End Use Industry:
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC Flat Glass Market Report:
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